© 2024 MICHIGAN PUBLIC
91.7 Ann Arbor/Detroit 104.1 Grand Rapids 91.3 Port Huron 89.7 Lansing 91.1 Flint
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Net loss for Michigan: Corporations getting back more than they pay in taxes

Capitol Building, Lansing, MI
Matthileo
/
flickr http://j.mp/1SPGCl0
Capitol Building, Lansing, MI

The Detroit News reported yesterday that Michigan corporations will receive tax refunds that exceed corporate tax payments to the state. In other words, there will be a net loss. Corporations will get back more than they pay.

Two things are happening here. First, tax credits have increased as chiefly the auto companies are cashing in on those incentives. Secondly, tax revenues are down.

Rich Studley, the CEO of the Michigan Chamber of Commerce, joins Stateside to explain how this happened. 

Stateside is produced daily by a dedicated group of producers and production assistants. Listen daily, on-air, at 3 and 8 p.m., or subscribe to the daily podcast wherever you like to listen.